Compound training

I am experimenting with the idea of compound training. Most people have heard about compound interest - the idea of adding interest to your capital investment to earn more interest on the combined amount. Compounding is one of the best investment 'tricks' there is.

In the business software world, training is usually a one hit wonder - you get a system and get some training. This can be problematic since users are expected to go from no knowledge to expert in one leap. Some people are good at this but they usually have a background knowledge to draw from - have worked with systems before, like playing with IT etc.

I am trying an approach that gives a new user access to training in steps that can be compounded. For example - if we implement a new Sage ACT! system we might follow three steps:

Step 1 - get the users watching a short introduction video as soon as possible (preferably before they get access to the system). This makes them familiar with the look of the system in a low threat way and only takes a matter of minutes.

Step 2 - a short person led training session based on their job. During this session they only cover what they need to start using the system.

Step 3 - for the advanced student. This is where we cover the system in depth, going through functionality that they aren't using now but that could be of use in the future.

Subsequent steps cover specific areas of the system in great depth but only when the user knows they need it and will put it to use.

This approach allows users to build their knowledge and confidence. At any point they can jump off the training schedule and go on their own, but the key is not to jump off too early. Too little training is the main cause for businesses struggling with the systems they use.

Maybe there's no rocket science here but it seems to work. The key is to make training available in bite-sized chunks that are approachable and affordable.

10 ways to boost your sales

Tips & tricks - how to get the most from your efforts as a sales person. If you read this blog post, please do so on the understanding that it is largely here to remind me what I believe in and then to make me do it!

Have a plan and work at it every day
Top sales people know their targets, what they have got to do to achieve them and then focus on doing it. No chatting about reality TV programme at the coffee machine. They plan, set goals and constantly ask themselves “How can I achieve my goals today?”
Prospect for new clients every day
Sales is like a bucket with a hole in the bottom! If you stop filling the bucket, it will soon be empty. It doesn't matter how you fill the bucket - cold calling, networking, referrals, events, PR, marketing, direct mail or white papers - it needs to be topped up every day.

Be genuinely interested in your clients
It's hard to get motivated on the 47th call of the day, but if you can’t get interested in your client, then they wont be interested in you. Being genuinely interested in your client's business is a great way to differentiate yourself.

Ask great questions
Great questions come from two things: The first is being genuinely interested. The second is planning and preparation. Sometimes you have to rehearse your questions - this doesn't mean that you read from a script though. Make a record of your clients’ answers so you can build up a profile of them. Focus on this one area of your business over the next few weeks and it could well make a big difference to your sales pipeline.

Listen to understand
Two ears, one mouth - too many sales people work the other way around! Most sales people filter what they hear, listening for what they want to hear. For this reason, many totally mis crucial pieces of information because it wasn’t what they were wanting to hear at that time. This can kill a sale.

Know your clients
Few people know their clients well enough. This can lose business because if you don't have enough understanding how can you truly help your client.

The information you need could well include size, markets, customers, projects, turnover, values, mission, individuals, individual drivers, future growth plans, exit strategies etc. When you’ve gleaned this information, store it in a single, simple-to-access database that you and your colleagues can easily return to.

Sell solutions, not products
If you’ve ever had problems with trying to get clients to commit or had deals that seemed ‘on’ then went sour, then you were probably selling products not solutions.
As a rule, we shouldn't discuss specific products or solutions until we know our clients’ explicit needs. And these needs should be stated by the client, not you!

Target your perfect customer
Outline your perfect customer on a piece of paper… in detail. Check that there are enough of them to build your business to the size that you want to build it to. Work out how to reach them, and get to work! And don’t tie yourself to customers you don’t want anymore, as you’ll never find the time to approach those you do want.

Be proactive, confident and professional
The key word here is professional - not cocky! Set yourself high standards and strive to maintain them in everything you do. Another popular way of stating this is to be a player not a victim.

Never stop learning
Seek out people that you admire, who take responsibility for their own success. Find out what they believe in, understand how they behave and what they did to achieve their success. Then decide how you can use that information to improve what you do.

This post was based on an article written for Sage ACT! by Gavin Ingham (http://www.gaviningham.net) with a few twists of my own.

Now please excuse me because my bucket needs filling....

Digital native vs digital immigrants?

How do you view technology?

Apparently a chap called Marc Prensky argued there are two types of users of digital technology - Natives and Immigrants. There's an interesting discussion running on linkedin http://linkd.in/a8XHOr

Sage CRM Solutions relaunch

I have spent the last two days at a relaunch event for the Sage CRM Solutions division. Sage have been a big player in the CRM marketplace for many years but they haven't got the recognition they should have. Their systems are powerful, simple to use an reliable and as a Sage Business Partner we get to work with clients of all sizes. We specialise in their ACT! and Sage CRM systems.

The division relaunch is centred around a new General Manager, Carlene Jackson who has years of experience in CRM.

All good news so far but there's lots more to do.

The cost of complexity (aka KISS)

Human beings seem to like making things complicated, but when it comes to business systems this can be bad news.

System reviews often start with a simple, but pressing, requirement eg.

• get a better idea of what sales are being worked on;
• what marketing works;
• store all information centrally.

Then best practice says you should:

1. list your requirements;
2. assess what is available to meet those requirements;
3. meet with a shortlist of vendors;
4. evaluate and make your decision;
5. implement.

I don't disagree with any of the above but the work involved must be in proportion. There are traps to fall into at each stage:

1. List your requirements - if you sit down with a blank sheet of paper you will almost certainly produce a lists of 'must haves', 'wants' & 'would likes'. It's worth understanding the three categories as the longer the list, the more complex & costly the finished system.
2. Assess what is available to meet the requirements - if stage 1 went well then you have a good solid list. If you spend too long looking at the options then you will generate a mountain of information that will take even longer to filter through. Three or four options should usually be enough and please consider your budget at this stage. If a system is too expensive then it probably isn't right for you.
3. Meet with a shortlist of vendors - it sounds silly but the most common trap here is to have a short list that isn't short. If you invite 15 vendors to the party then nobody gets what they need - least of all you.
4. Evaluate and make your decision - if there is an obvious choice then that's OK, you don't need to look to make it more complicated. If it's not obvious, then a team meeting, a white board and simple scoring system might do the trick. List your requirements and score each system as to how well it meets them - 1 = doesn't, 5 = completely. This will highlight where you need more info and may give you an answer. Please don't rely on the vendor to do this exercise as they may be biased!
5. Implement - This is where it is crucial to keep the list from stage 1 handy. Systems people call it 'project creep' - new requirements added along the way will cause sleepless nights as well as cost and time over runs. Set your goals, make sure everyone sticks to them and have some measurable objectives if possible.

There is always a reason why an IT project goes wrong and being over ambitious or complex is up there at the top of the list.

Understand the costs of CRM in the cloud

There has been a big shift towards cloud computing in the CRM world. The company that has benefited the most from this trend is Salesforce.com. They claim over 75,000 companies use their online CRM system and I don't doubt this for one minute. However, I wonder how many of these companies really know whether it is the right place for them. Companies can be guilty of having a heard mentality - "..they are there so it must be right for me..".

I'm a firm believer in cloud based systems but would only recommend going for an online CRM system if it meets with the client's specific requirements and budgetary constraints. This approach is essential if a company is going to understand the options and make an informed decision.

Many business managers (understandably) get confused by the terminology - pay per use, SaaS, cloud, web technology etc... The right way to start a review is to separate what you need from what / how you want to pay. If you decide that you need a web based system then consider the pay per use model but remember not all web based systems are pay per use. For SMEs this is often a question of cashflow rather than ROI as purchased systems usually work out more cost effective over the lifetime of a system.

It's also worth looking in detail at what is included in the monthly rental - salesforce have systems starting at £3 per user per month but their most popular system costs £85 / user / month. For a 5 user system that's £5100 per year! There is a reason why it's the most popular - it's the one that has the functionality that people need.

In summary - there's no shortcut. Understand what you need, consider the options and don't get caught out by the hype - cloud is good but it isn't always right.

Making existing IT work for you

Most indicators show that the economy has turned and that we are in the early stages of a recovery. Companies are thinking about investing again to make sure they are in the best possible position to capitalise on the upturn.

With reduced headcount in many companies, business software needs to work harder to make up the difference. This often leads to a search for replacement systems but managers need to make sure that there is a real compelling reason for a change.

I am advising my clients to document what they need from their systems and make sure that existing systems can not do it. It can cost more than three times as much to implement a new system as it does to upgrade or modify existing ones. Sometimes, all that is needed is a bit of training which is a real saving compared to the upheaval of implementing a new system.

However, if there are compelling reasons to change, then investment is required. Whether you upgrade or replace it should be turned into a really positive event.